1. General Provisions
This Code of Ethics (hereinafter – the Code) establishes the fundamental principles and standards of professional ethics and conduct of arbitrators of the Riga Arbitration Court. The purpose of the Code is to promote a high professional level of arbitrators’ activities, ensure integrity, fairness, and efficiency of arbitration proceedings, as well as to build and maintain public and parties’ trust in the institution of arbitration, in accordance with best international practice and the legislation of the Republic of Latvia.
2. Fundamental Principles
The activities of an arbitrator are based on the following ethical principles:
- Independence and impartiality: An arbitrator is independent and makes decisions solely based on the law and personal conviction. An arbitrator must avoid any direct or indirect influence, and any personal, economic, social, or other connections must not affect the impartiality of decisions.
- Honesty and integrity: An arbitrator must conduct themselves with honesty and integrity both in professional and private life, acting in a manner that does not undermine the authority of the judiciary and public confidence in arbitration.
- Competence and diligence: An arbitrator is obliged to maintain and improve the legal and procedural knowledge and skills necessary for the proper performance of duties. Cases must be considered thoroughly, promptly, and with proper reasoning.
- Equality and respect: An arbitrator must ensure equal opportunities and respect for all participants in the proceedings and their representatives, without allowing any prejudice or discrimination.
- Confidentiality: An arbitrator must preserve the confidentiality of all information related to the arbitration process, except in cases where the law or official duties require otherwise.
3. Conflict of Interest and Disclosure
An arbitrator must avoid any conflict of interest. The arbitrator must disclose to the presiding officer of the court and the parties any circumstances that may give rise to doubts about their independence or impartiality (including personal, financial, or professional connections) and must withdraw from the case if such a conflict exists.
4. Principles of Procedure and Decision-Making
An arbitrator must ensure an efficient, fair, and procedurally correct arbitration process. Proceedings must not be deliberately delayed or abused. Decisions must be clear, understandable, well-reasoned, and legally justified.
5. Responsibility of the Arbitrator
An arbitrator bears responsibility for compliance with the provisions of this Code. A violation of the Code, depending on its seriousness, may entail liability in accordance with the Rules of the Riga Arbitration Court and the regulatory acts of the Republic of Latvia.
6. Final Provisions
This Code is binding on all arbitrators of the Riga Arbitration Court. To ensure its compliance with modern requirements and international practice, the Code shall be subject to regular review and, where necessary, amendment.